Historically, regulated industries have been slow to embrace disruptive technologies relative to their peers. For decades, their monopoly status removed competitive pressures to innovate and retain their customer base. But my, how times have changed. With non-traditional providers and solutions emerging every day, the traditional utility as we know it must transform to keep (and compete for) market share.
For example, have you taken the time to consider Walmart, Amazon and Ikea a threat to your stability? If you answer ‘no’, I suggest you think again. When the brand new IKEA moves into town, know that they aren’t simply showing up with a warehouse full of cost-effective furniture, but a microgrid to go alongside it. And, retailers aren’t the only industry beginning to leverage distributed energy options such as solar to defray their energy costs.